Senior Equity Financial, Inc.

Case Studies

> Line of Credit

The client: A 68-year old man, living in a $275,000 home with no mortgage.

The goal: To maximize the monies available and to be prepared for any future expenses.

How we helped: Because, at the time, interest rates were low, we recommended that he could get the most out of a reverse mortgage program with a line of credit.

The result: Based on his age, home value, interest rate, and closing costs, he was eligible for a line of credit of $150,000. If he didn’t use the money—and if rates averaged 6% over the next 5 years, he could have a potential $210,000 to use in his line of credit. This would be available even if rates went higher or even if his home depreciated in the near future.

Keep in mind: A unique feature of the line of credit, which is unlike any other loan, is that the monies available will be growing over time, based on the interest rate charged on the monies borrowed. This growth is regardless of future home value and will grow, even if your home depreciates.

If you’re interested in learning more about reverse mortgages, Senior Equity Financial has the experience to help you understand the options and find the reverse mortgage that’s specifically tailored to fit your financial needs.

With Senior Equity Financial, your needs come first. Just call us at (800) 261-8507.